PT United Tractors Tbk (UNTR) has channelled an extra credit worth IDR 180 billion to its shipping service business line, PT Patria Maritime Lines (PML).

Sara K. Loebis, Corporate Secretary of UNTR, mentioned that in June 2019, the company had distributed a credit facility worth IDR 280 billion to PML. Thus, with this extra capital credit, the total facility granted by UNTR for PML reaches IDR 460 billion.

“The company and PML have signed the addendum of the agreement,” Loebis confirmed in the official statement.

According to IDNFinancials data, PML has been engaged in the domestic shipping business since 2008, boasting total assets before elimination of IDR 1.59 trillion. The entire shares of PML are under the control of UNTR through PT United Tractors Pandu Engineering (UTPE).

Until September 30, 2022, UNTR reportedly stored IDR 43.41 trillion of cash and cash equivalent, while its total equity clocked up to IDR 83.77 trillion. (KR/ZH)